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pdrub gives Ezra Klein and Derek Thompson a clue

pdrub comments on Derek Thompson's guest post on Ezra's blog:

Terrible, just terrible. You and Ezra, despite what Jamie Galbraith tried to explain to him, still don't understand the sectoral balances that make domestic deficits imperative.

Government deficit (surplus)=private sector surplus (deficit)
by definition!

Balanced budgets mean removal of financial assets from the private sector, which then needs to turn to indebtedness.

Really, start reading Randall Wray, Warren Mosler, Bill Mitchell and wrap your head around fiat currency regimes such as ours. We are not on a gold standard anymore!
Start with Read more about pdrub gives Ezra Klein and Derek Thompson a clue

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Time to take a hint and know when you aren't wanted

Digby
Pushing The Left

Lynch basically wants to put the Democratic Party up for bid to big business, telling labor and liberals in the party to get with the program or shut the hell up. The people shall have no say in who represents them. This shall be done solely by the powers that be

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We're not wanted. What do you think that Rahm meant when he said "Fuck the UAW." What do you think Andrew Cuomo means by busting public employee unions. We are not wanted. Read more about Time to take a hint and know when you aren't wanted

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Do you live in Missouri?

Thread: 

Write a letter to the editor explaining how Claire McCaskill's latest blunder will hurt America. Read more about Do you live in Missouri?

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Social Security hearings

If there are proposed changes to Social Security, who which committees would have jurisdiction? Senate Finance? House Ways and Means? Read more about Social Security hearings

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Life on planet Geithner

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(Reuters) - Following are highlight quotes from Treasury Secretary Timothy Geithner at the World Economic Forum in Davos

"There is much more confidence now that we've got a sustained expansion. It's not a boom. It's not going to offer the prospect of a rapid decline in the unemployment rate.

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Aux letters to the editor, Citoyens!

Thread: 

White House still holding Social Security hostage:

The best thing you can do right now is write letters to your congress critters and/or your local papers, since as venal as they are, they still have to worry about getting reelected

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I think that letters to the editor is even more important since congressional press secretaries watch letters to the editors. Read more about Aux letters to the editor, Citoyens!

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ZOMG, Yglesias has worked out that we have a fiat currency!

Could this be the beginning of the end of we can't afford that? Read more about ZOMG, Yglesias has worked out that we have a fiat currency!

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Justice Dept.: All your data belongs to us

CNET: Justicce Department seeks mandatory data retention

Compare and contrast this with its attitude to mers and mortgages. Read more about Justice Dept.: All your data belongs to us

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Goliath vs Goliath

I was wondering when this was going to happen: Insurance companies sue BoA over "massive fraud" in mortgage-backed securities. Read more about Goliath vs Goliath

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The deficit hysteria of Bill Gross

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Seeking Alpha comments on Bill Gross's most recent anti-deficit rant: Read more about The deficit hysteria of Bill Gross

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The filthy rich, the filthy stinky rich, and the pornoscanners

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I have been thinking about the airport porno scanners and class divisions. One of my ideas is that the interests of the filthy rich and the interests of the filthy stinking rich are in conflict.

The filthy stinking rich have their own planes, they don't go through security. The merely filthy rich, by contrast, ride first class and have to submit to this humiliating procedure. I am guessing they don't like it one little bit.

The filthy rich are a major stay of partisan fundraising. They have the power to sit down and write a check for $2,000 if they are so inclined. Now they are intensly practical people, how do you suppose they became filthy rich? They are not interested in pissing away money on emergent party dreams. Read more about The filthy rich, the filthy stinky rich, and the pornoscanners

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Defending Sherriff Dupnik

Crooks and Liars has the details on Sheriff Clarence Dupnik of Pima County Arizona and how he told the truth about how hateful rhetoric contributes to this sort of tragedy.

Part of how the right wing gets away with their outrageous behaviour is that everytime someone calls them on their outrageousness, that person is shouted down. Certain things have become unsayable. That needs to change. Read more about Defending Sherriff Dupnik

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Liberal infrastructure

It is something that gets talked about a lot in lefty blogosphere, we have no liberal infrastructure. There is no lefty version of the elaborate network of foundations, think tanks, and publishing deals that nourishes the right. It has taken the right wing decades to get their talking points into our social fabric. We have only just begun the work of pushing back.

Because our proposals, a job guarantee, Medicare for All, no more torture, have inherent popular appeal, it won't take us as long to get them back into public discourse, but the lack of infrastructure is a HUGE handicap. Read more about Liberal infrastructure

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Comic relief

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